Comments
Diversified group Lanco Infratech today reported a net loss of Rs 464.64 crore in the three months ended December 2012.
The company had a net profit of Rs 60.92 crore in the year-ago period.
In the latest December quarter, Lanco Infratech’s reported net operating income of Rs 3,488.70 crore compared to Rs 3,029.31 crore in the same period a year ago.
“The reported consolidated net operating income and net profit have been arrived at after eliminating inter-company transactions...,” it said in a filing to the BSE.
Lanco Infratech has interests in power, infrastructure and realty, among others.
“As at December 31, 2012, the group has receivables from various state electricity utility companies and other customers against the sale of power aggregating to Rs 3,525.22 crore..., net current liabilities of Rs 2,345.82 crore and current maturities of long-term borrowings Rs 2,680.59 crore,” the filing said.
Citing internal assessment and various discussions with customers, Lanco Infratech said the management is confident of recovery of receivables.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.